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This Indicator Turned Positive! Will Selling Pressure for Bitcoin Ease? šŸ¤” šŸš€M2 money supply developments are accelerating rapidly! Get ready for the Bitcoin journey... Here begins the journey. In a report released on May 2, crypto analysis firm Glassnode stated that ā€œnet outflows have increased during April, which means consistent selling pressureā€ on the flagship Bitcoin of cryptocurrencies. On the other hand, Bitcoin's price is currently trading at $59,586, down 9.75% in the last 30 days. The M2 Money Supply is an estimate of all cash and short-term bank deposits held across the country, returning positive from year to year as of May 1. This shows that the money in circulation is generally increasing and is generally considered an indicator that investors are oriented towards assets that perform better during periods of high inflation. Historically, Bitcoin and the cryptocurrency market have begun to outperform traditional financial markets with an increase in global M2 supply. This could mean a new increase in BTC and cryptocurrencies for the coming period. For the first time of the M2 Money Supply, "positive on an annual basisā€¦ DYOR #BTC #BullorBear #bitcoin #Analysis $BTC

This Indicator Turned Positive! Will Selling Pressure for Bitcoin Ease? šŸ¤”

šŸš€M2 money supply developments are accelerating rapidly! Get ready for the Bitcoin journey... Here begins the journey.

In a report released on May 2, crypto analysis firm Glassnode stated that ā€œnet outflows have increased during April, which means consistent selling pressureā€ on the flagship Bitcoin of cryptocurrencies. On the other hand, Bitcoin's price is currently trading at $59,586, down 9.75% in the last 30 days.

The M2 Money Supply is an estimate of all cash and short-term bank deposits held across the country, returning positive from year to year as of May 1. This shows that the money in circulation is generally increasing and is generally considered an indicator that investors are oriented towards assets that perform better during periods of high inflation.

Historically, Bitcoin and the cryptocurrency market have begun to outperform traditional financial markets with an increase in global M2 supply. This could mean a new increase in BTC and cryptocurrencies for the coming period.

For the first time of the M2 Money Supply, "positive on an annual basisā€¦ DYOR

#BTC #BullorBear #bitcoin #Analysis $BTC

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šŸšØ WHALE ALERT šŸšØ Whale, Which Previously Made A Profit Of $1.67 Million From Tek Trade, Made New Altcoin Purchases! šŸ³ The 0xd876 short-address whale currently includes a $23.3 million altcoin. This whale wallet had made a profit of $1.67 million from the Fantom (FTM) altcoin with its previous trades. This whale recently bought Maker (MKR), Phantom (FTM) and PEPE. The whale in question spent $2.26 million on May 7 and bought 3.18 million FTMs. The same whale received FTM at $0.33 on January 24 and sold at $0.83 on March 19 to make $2.8 million. In addition, the whale wallet paid $1.25 million hours ago, buying 464 MKR tokens at $2,697. On April 30, the whale paid 1.22 million dollars and bought 428 MKR at the level of 2,846 dollars. The same whale spent 558 thousand dollars on May 8 and bought 70 billion PEPE tokens. #WhaleAlert #WhaleInsights #whale $FTM $PEPE
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Resistance Breaks at Cardano Price šŸ“Š Recently, Cardano's (ADA) price exceeded a significant resistance level, showing the potential to rise to a value of $0.5 and above. This can directly affect investors' belief in ADA and their movement in the market. In addition, there are changes in the dynamics of supply and demand; short-term investors dispose of their assets in less than a month, while medium-term investors prefer to hold their assets for up to a year. Change in Investor Behavior The supply of short-term traders has dropped from 21.64% to 14.23% over the past three weeks. This decline shows that ADA investors are more motivated to hold their assets rather than dispose of them. On average, medium-term owners currently control 50.63% of the ADA supply, which can be considered a sign of increased confidence in investing. Market Fluctuations and Statistical Analysis The ratio of Cardano's Market Value to Real Value (MVRV) evaluates the investor's profit or loss status. The 8.4% drop in ADA's 30-day MVRV rate suggests investors are experiencing losses, which could potentially lead to more accumulation. This provides possible savings opportunities for ADA investors. Medium-term investors now hold more than half of the ADA supply, indicating increased stability and investor confidence in the market. The MVRV decline points to possible accumulation opportunities; investors may consider low MVRV rates as opportunities to buy. Breaking resistance levels could trigger new price targets for ADA and maintain an uptrend. As a result, these changes in ADA's market performance and investor behavior can offer significant investment opportunities, especially for medium-term investors. The rise in price and the exceeding of resistance levels could help strengthen ADA in the cryptocurrency market. #CardanoSurge $ADA #priceprediction #analysis
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Can Bitcoin Price $70K? šŸ¤” Bitcoin has been under significant pressure on its price after exceeding the $60,000 psychological limit from the beginning of May and has moved in a narrow price range. Bitcoin can see the $70,000 level this month. Sign of rise of 200- and 50-week moving averages, a bull trend in the market. While moving averages create a strong support, the Crypto Fear and Greed Index signals ā€œgreedā€. In addition, the stall of mining sales indicates that the market will move in a positive direction.The 200-day moving average has reached an all-time high, and Bitcoinā€™s horizontal hover can be deceptive. Bitcoin has created a large cup and handle formation over the weekly time frame, which could be a signal of a significant upth. If Bitcoin exceeds ATHs during the summer, there is a possibility that it will expect a strong rally in a short time. Market Dynamics and Expectations Selling pressure from short-term investors may decrease. Bitcoin's recent decline could be the bottom of the market, and I predict that the price could fluctuate between $60K and $70,000 by August. Important Inferences for the User The rise of the 200- and 50-week moving averages could be a positive indicator for long-term investments. The high crypto fear and greed index indicates that market sentiment is positive. The formation of the cup and handle formation could be the beginning of a possible uptrend. In summary, the price of Bitcoin appears to have the potential to exceed the $70,000 level in May. DYOR #buythedip #bitcoin #BTCanalysis $BTC
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AVAX Technical Analysis: What Factors to Watch in Altcoin? šŸ“Š šŸ“ˆ AVAX price is gaining momentum above the $36.50 resistance. If there is a clear movement above the $40.00 resistance zone, the avalanche could rise even higher. AVAX price is rising from the $30.50 support zone against the US dollar. The price is trading above $35.00 and the simple moving average (4 hours) of 100. There was a break above a significant downtrend line with $34.00 resistance on the 4-hour chart of the AVAX/USD pair. The pair could continue to rise if it stays above the $36.30 and $35.50 support levels. AVAX Aims Higher Price Following a steady decline, Avalanche's AVAX found support near the $30.50 zone, a low close to $30.58. The price has launched a new increase, such as Bitcoin and Ethereum. AVAX technical analysis; the price increased by over 10%. It overcame many obstacles around $35.00. There was a break above the line of a significant downtrend with $34.00 resistance on the 4-hour chart of the AVAX/USD pair. The pair even cleared the 50% Fib pullback level of the downward movement towards $30.58 from the $39.83 high oscillation. AVAX price is currently trading above the $36.50 and 100 simple moving average (4 hours). On the upper side, there is a sudden resistance to the $37.65 region, or a resistance close to the 76.4% Fib retracement level of the downward movement from the $39.83 high to the $30.58 oscillation. If the AVAX technical analysis price fails to continue higher than the $37.65 or $39.80 levels, it could initiate a downward correction. Downward instant support is close to $36.30. The main support is close to the $35.20 region and the 100 simple moving average (4 hours). A downward break below the $35.20 level can open the doors to a major drop towards $32.80. The next big support is near the $30.50 level. 4 hours MACD ā€“ MACD for AVAX/USD is gaining momentum in the bullish zone. 4-hour RSI (Power Index) ā€“ RSI for AVAX/USD is now above the 50 level. Main Support Levels ā€“ $36.30 and $35.20. #altcoins #CryptoWatchMay2024 #ANALYSIS $AVAX
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Top Meme Coins to Focus As $BTC Sparks Fresh Rally Above $63k
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